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Analysts see oil price plunging through 2008-low

The oil prices this week dropped to the lowest levels since 2009, but this does not look like the final stop for the plummeting oil price. Analysts project that the lows experienced in 2008 will likely be surpassed, and that the price could slide even further.

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The two benchmark oils - North Sea Brent and West Texas Intermediate - are current hovering at USD 40.91 and USD 38.41, respectively, which represent the lowest prices since 2009.

But several oil analysts estimate that the slide does not look set to stop here, reports Norwegian business daily Dagens Næringsliv.

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